You don't want to do that. To setup up a stable email server, usually you need to have:

1. A spare computer which would be on 24x7
2. A high speed internet connection.
3. Your own domain name.
4. A dedicated IP address.

Even you have all these, it still can't come close to a Godaddy server, not to mention the cost involved.

A Godaddy server is
1. located in an air-conditioned and secure datacenter.
2. connected to the Internet backbone directly.
3. with redundant power supply.
4. with other services such as backup and on-site support.